AsiaStrategy
SORA Nasdaq Wholesale-Jewelry, Watches, Precious Stones & Metals Financials FY2022–FY2025
What AsiaStrategy does
No business description yet.
- Legal name
- AsiaStrategy
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 30, 2026
- Accession · CIK
- 0001213900-26-050019
0002033515
Revenue and margins
AsiaStrategy had $11.0M of revenue in fiscal 2025, down 37.7% on the year before.
Net income and earnings per share
From fiscal 2022 to 2025, diluted EPS grew 418.3% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was −$4.3M in fiscal 2025, −39.4% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
AsiaStrategy returned — to shareholders in fiscal 2025. The diluted share count rose 19.5%.
Balance sheet
Cash, debt and the ratios that show how comfortably AsiaStrategy can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $1.2M | $1.5M | $2.6M | $1.5M |
| Debt incl. finance leases | — | $11.5M | $10.4M | $4.2M |
| Net debt / EBITDA | — | 19.0x | 33.6x | — |
| Debt / equity | — | — | 7.5x | 0.2x |
| Interest coverage | 1.1x | 1.6x | 0.8x | −5.3x |
| Current ratio | — | 1.7x | 2.9x | 6.5x |
| Quick ratio | — | 0.9x | 1.8x | 5.1x |
| Total assets | — | $5.6M | $6.6M | $39.7M |
| Total liabilities | — | $6.2M | $5.3M | $17.9M |
| Shareholders' equity | −$0.8M | −$0.6M | $1.4M | $21.8M |
| Net debt (− = net cash) | — | $10.0M | $7.7M | $2.7M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✕ | ✓ |
| Cash from operations is positive | ✕ | ✓ | ✕ | ✕ |
| Return on assets rose | — | — | ✕ | ✓ |
| Cash from operations exceeds net income | ✕ | ✓ | ✕ | ✕ |
| Debt fell relative to assets | — | — | ✓ | ✓ |
| Current ratio rose | — | — | ✓ | ✓ |
| Share count didn't rise | — | ✓ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✓ | ✕ |
| Revenue rose relative to assets | — | — | ✕ | ✕ |
| F-score | — / 3 | — / 5 | 3 / 9 | 4 / 9 |
| Accruals ratio | — | −20.9% | 6.9% | 71.7% |
| Altman Z'' | — | 2.37 | 3.95 | 6.46 |
4 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $14.2M | $18.8M | $17.6M | $11.0M |
| Provision for credit losses | — | — | — | $0.1M |
| Gross profit | $1.3M | $1.4M | $1.4M | $0.4M |
| Operating income | $0.2M | $0.5M | $0.2M | −$1.6M |
| Interest expense | $0.2M | $0.3M | $0.3M | $0.3M |
| Pretax income | $0.1M | $0.2M | −$0.1M | $12.5M |
| Income tax | $0.0M | $0.0M | −$0.0M | $0.2M |
| Net income | $0.1M | $0.2M | −$0.0M | $12.3M |
| Net income to common | — | $0.2M | −$0.0M | $12.3M |
| Diluted EPS | $0.00 | $0.01 | −$0.00 | $0.50 |
| Diluted shares | 0.02B | 0.02B | 0.02B | 0.02B |
| Cash flow | ||||
| Cash from operations | −$2.2M | $1.4M | −$0.5M | −$4.3M |
| Capital expenditure | — | — | — | $0.0M |
| Free cash flow | — | — | — | −$4.3M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $0.4M | — | — | — |
| Dividends and buybacks | $0.4M | — | — | — |
| Balance sheet | ||||
| Cash and short-term investments | $1.2M | $1.5M | $2.6M | $1.5M |
| Total debt | — | $11.5M | $10.4M | $4.2M |
| Deposits | — | $1.5M | $3.0M | — |
| Current assets | — | $4.6M | $5.8M | $32.1M |
| Current liabilities | — | $2.7M | $2.0M | $4.9M |
| Inventory | — | $2.0M | $2.2M | $7.1M |
| Property and equipment, net | — | $0.0M | $0.0M | $0.0M |
| Total assets | — | $5.6M | $6.6M | $39.7M |
| Total liabilities | — | $6.2M | $5.3M | $17.9M |
| Shareholders' equity | −$0.8M | −$0.6M | $1.4M | $21.8M |
| Margins | ||||
| Gross margin | 8.9% | 7.3% | 8.0% | 3.5% |
| Operating margin | 1.4% | 2.8% | 1.3% | −14.3% |
| EBITDA margin | 1.4% | 2.8% | 1.3% | −14.3% |
| Net margin | 0.5% | 1.0% | −0.2% | 111.9% |
| FCF margin | — | — | — | −39.4% |
| Returns | ||||
| Return on capital | — | 5.2% | 2.0% | −6.4% |
| Return on capital employed | — | 18.7% | 5.0% | −4.5% |
| Return on equity | — | — | −10.8% | 106.1% |
| Return on assets | — | 3.5% | −0.7% | 53.0% |
| Return on tangible equity | — | — | −3.1% | 56.4% |
| Growth | ||||
| Revenue growth | — | 32.3% | −6.4% | −37.7% |
| Net income growth | — | 173.2% | −121.5% | — |
| EPS growth | — | 172.2% | −120.4% | — |
| Share count change | — | 0.0% | 3.2% | 19.5% |
| Financial health | ||||
| Net debt / EBITDA | — | 19.0x | 33.6x | — |
| Debt / equity | — | — | 7.5x | 0.2x |
| Interest coverage | 1.1x | 1.6x | 0.8x | −5.3x |
| Current ratio | — | 1.7x | 2.9x | 6.5x |
| Quick ratio | — | 0.9x | 1.8x | 5.1x |
| Capital allocation | ||||
| Capex / revenue | — | — | — | 0.0% |
| Quality scores | ||||
| Piotroski F-score | — | — | 3.0 | 4.0 |
| Altman Z'' | — | 2.4 | 4.0 | 6.5 |
| Accruals ratio | — | −20.9% | 6.9% | 71.7% |
Source: SEC EDGAR XBRL filings (CIK 0002033515). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.